Answer:
Bank can safely expand its loan until it has zero excess reserves i.e. up to a maximum of $5000.
Any material purchased will be recorded in the Raw material inventory account. The option for the first blank is raw and second blank is material.
<h3>
What is Inventory Account?</h3>
Inventory Account refers to the account which records all the transactions related to the stock. It records the purchased of the stocks, work in progress, closing stock, opening stock etc.
The complete question is attached below.
The raw material inventory account is where all materials that will be used to create the final product are first registered.
Learn more about raw material here:
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Answer:
A. when the owner defaults on the loan payment
Answer:
A corporation is a separate entity apart from that of the owners. A corporation is not responsible for its debts if it fails. A corporation is much larger than other kinds of businesses.
Explanation:
Answer:
100% will be included in the Income Statement
Explanation:
Always remember that the depreciation calculated for the accounting period can be apportioned as per the International Accounting Standard IAS 2, which says that expenses must be classified in a manner that results in the truth & fairness of the Financial Statements. This means that if depreciation calculated is $500 then the whole of this depreciation will be expensed out in the income statement. It's 20% might go to selling activities, 35% to administrative activities, and 45% to manufacturing activities.
<h3><em>B</em><em>
ut remember that the depreciation calculated for the accounting period would be expensed out by $500 in the income statement, for the period generated.</em></h3>